Nomura has reiterated its ‘Buy’ rating on eClerx Services, assigning a target price of Rs 3,600 per share, indicating a potential upside from the current market price of Rs 3,152. The brokerage cited a strong Q4 performance and a healthy deal pipeline as key drivers of its positive view.
For Q4FY25, revenue and margins came in above estimates, supported by continued strength in annual contract value (ACV) and improved sales effectiveness, which Nomura said is reflected in a robust deal pipeline.
The company has maintained its EBITDA margin band, and Nomura has raised its FY27 earnings per share (EPS) estimate by 2.4%, factoring in the recent performance and business outlook.
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